General overview for 25/05/2016:
The impulsive down move looks completed with the low at the level of 122.33. Currently the internal corrective move is unfolding, so as long as the level of 124.02 is not violated, the count is correct and valid. Please notice the correction in wave 2 might extend higher than the intraday resistance at the level of 122.92. Nevertheless, in the near-term another wave down is being expected anyway.
Support/Resistance:
121.47 - Projected Target Level
121.92 - WS2
122.63 - Intraday Support
122.77 - WS1
122.91 - Intraday Resistance
123.14 - Black Impulsive Count Invalidation Level
123.46 - Weekly Pivot
124.34 - WR1
Trading recommendations:
All sell orders from last week should be still kept open as the target hasn't been hit yet. More sell orders might be added after the level of 122.63 is violated.
